Aircraft maintenance firm enters administration

Mon, 12 Oct 2015 | ADMINISTRATION

An aircraft maintenance company based in Hampshire has entered administration after struggling to find enough work to keep things moving, the BBC reported.

ATC Lasham operated out of Lasham and Southend Airport and provided scheduled and unscheduled heavy maintenance on Boeing and Airbus aircraft out of a four-bay facility.

Administrators from Grant Thornton have been appointed to handle the administration. A statement explained that 309 of the company's 373 staff have lost their jobs with a skeleton staff being kept on to help handle administrative matters.

The firm's financial distress has been attributed to a lack of work. Nigel Morrison from Grant Thornton commented: “The current outlook and forecast cash flow requirements have left the directors with no alternative.

“We will be urgently reviewing options and seeking ways to minimise the potential disruption that may be caused to customers.”

The team added that while the company usually sees a reduction in work over the summer months, this year they failed to see an increase in orders to fill their winter programme. While the firm tried to find additional investment to keep the business above water over the colder season they were unsuccessful.

ATC Lasham was incorporated in 1995 but has a long history. The airfield from which the firm operated was an RAF base built in 1942 and one of the early airlines, Dan-Air, also operated its sister company on Lasham airfield.

View more businesses for sale.

Share this article

Latest Businesses for Sale

Plumbers Merchant & Large Bathroom Showroom
Colchester, Essex, South East, UK

With a good level of net profit available and a fantastic reputation, this is an ideal opportunity for an entrepreneur with industry expertise, or a competitor looking to grow through acquisition, to own a successful business with further growth pote...

Asking Price: Offers Invited
Turnover: £970,757


Driving School
Silverstone, Northamptonshire, UK Wide

The long-standing business offers a wide range of services including prestigious, advanced rally driving lessons as well as entertaining rally days out, rally courses, junior rally driving experiences and professional rally driver training based in t...

Asking Price: £350,000
Turnover: £300,000


Manufacturing Company
West Midlands, UK

The business for sale is an established company specialising in the design and manufacture of modular ballast support systems/ access solutions for the HVAC and Renewable energy industries. The flat roof framework system is fully adjustable and can b...

Asking Price: Offers Invited
Turnover: £614,931


View more businesses for sale

News Search

Latest News


On-demand laundry app snapped up after administration | BUSINESS SALE

Laundrapp, an on-demand laundry service which was touted as ...


Subprime lender Amigo launches sale process | BUSINESS SALE

UK subprime lender Amigo has announced that it is in talks w...


Leicester printing firm enters administration | ADMINISTRATION

Long-established Leicester printing firm Taylor Bloxham Grou...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Administrators called in for energy technology firm Faraday Grid | ADMINISTRATION

Faraday Grid, an Edinburgh-headquartered energy transformer ...


Administrators called in for Newport radiator company | ADMINISTRATION

A radiator manufacturer headquartered in Newport, South Wale...


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources